Mubasher: GFH Financial Group, listed on four stock markets in the GCC, has acquired a second medical clinics portfolio in the US for $400 million.

The income-yielding portfolio consists of 11 geographically diversified assets located across four US states, namely California, Texas, Maryland, and Louisiana.

The medical portfolio spans more than 1 million square feet, anchored by investment-grade credit tenancy, according to a press release.

The assets are positioned in their submarkets, which leads to high occupancy and rent growth.

To date, GFH’s assets portfolio in the US medical office building sector has reached $1 billion.

Co-Chief Investment Officer – Real Estate at GFH, Nael Mustafa, said: “We are pleased to announce the acquisition of this prime, income-yielding medical clinic portfolio as part of GFH’s ongoing expansion in the medical office building sector in fast-growing cities across the US.”

Mustafa noted: “We believe strongly in the long-term fundamentals in the healthcare sector and the dynamics that are supporting an increase in demand for high-quality medical office space.”

He added: “We look forward to working with our partner Big Sky Medical to maximise the value of these assets.”

It is worth noting that GFH is currently trading on Bahrain Bourse, Boursa Kuwait, Dubai Financial Market (DFM), and Abu Dhabi Securities Exchange (ADX). There is also a plan for a potential listing on the Saudi Exchange (Tadawul).